RESOURCES

Goverment compliance

Consumer Financial Protection Bureau (CFPB) – Learn about the government agency that monitors consumer lending practices.

State Usury Laws – A list of the usury limits for each state. The usury limit usually is not applied to retail installment contracts or other timed payment contracts as they are generally not considered loans.

Federal Truth in Lending Act – The Truth in Lending Act (TILA) of 1968 is United States federal law designed to promote the informed use of consumer credit, by requiring disclosures about its terms and cost to standardize the manner in which costs associated with borrowing are calculated and disclosed.

FDIC – The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the U.S. Congress to maintain stability and public confidence in the nation’s financial system by insuring deposits, examining and supervising financial institutions for safety and soundness and consumer protection, and managing receiverships.

FACTA – Learn about the Fair and Accurate Credit Transactions Act (FACTA) that allows consumers to obtain a free credit report once every twelve months.

Equal Opportunity Lender – Equal opportunity lender refers to all banks insured by the Federal Deposit Insurance Corporation in the United States. Such banks are prohibited from discriminating on the basis of race, color, religion, national origin, sex, handicap, or familial status.

Industry links

myFICO – myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries.

Types of Loans – Variant Finance’s consumer finance programs utilize various types of loans. Learn about the different ways loans are structured here.

National Installment Lenders Association – NILA is a membership organization that educates and informs policymakers and the public about the benefits of access to traditional installment loans as a source of credit.

AFSA – The American Financial Services Association (AFSA) is the national trade association for the consumer credit industry, protecting access to credit and consumer choice. The association encourages and maintains ethical business practices and supports financial education for consumers of all ages.

AFP – The Association for Financial Professionals (AFP) is the professional society that represents finance executives globally. AFP established and administers the Certified Treasury Professional and Certified Corporate FP&A Professional credentials, which set standards of excellence in finance.

Free Credit Report – AnnualCreditReport.com is the only source for your free credit reports authorized by federal law.

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